YEREVAN, December 27. /ARKA/. The Armenian Car Insures’ Bureau has denied today rumors that purchase of a car insurance policy becomes optional in 2012.
“The Car Insurers’ Bureau officially denies rumors that car owners may themselves decide to purchase policies in 2012 or not,” it said in a press release.
It said the people spreading false information are misleading the public that may create tension and result in additional problems for car owners if they fail to buy new insurance policies.
The Bureau said car insurance is mandatory. The failure to buy a policy entails a fine up to 50 thousand drams, regardless of whether the vehicle is used or not. The fine for driving a car with expired insurance ticket is 150,000 drams.
The law on mandatory insurance of motor vehicles entered into force on January 1, 2011. It provides protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident. -0-
